Updated Main-Level Residential Income
For Sale
$210,000
1579 North Dewey Avenue, Reedsburg, WI 53959
Low-maintenance condo with private outdoor space, flexible second-bedroom use, and recent mechanical and interior improvements.
Property Size1,148 SF
Price / SF$182.93
Days on Market146
Property Features for 1579 North Dewey Avenue
General Information
Standard status
Active
Size
1,148 SF
Property subtype
Condo / Ranch-1 Story
Zoning
Res
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,730
Amenities
Refrigerator, Stove, Microwave, Dishwasher, Washer, Dryer, Window Treatments
Forced air, Central air
Wood or sim. wood floors, Walk-in closet(s), Skylight(s), Washer, Dryer, Internet -Fiber Available
Vinyl, Brick
1 fireplace, Gas
Private Entry, Patio
Building Details
Year Built
1994
Listing Agency:
Gavin Brothers Auctioneers LLC
(608) 524-6416
Listed By:
Jaime Fearing · License #98762-94
(608) 524-6416
Source:
Compass
Added: Apr 7
Changed: Aug 29
Last Checked: Aug 29 at 6:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gavin Brothers Auctioneers LLC
Investment Insights
Based on property information with market context.
This 1,148-square-foot condominium provides single-level living with two bedrooms and one full bathroom. The primary bedroom includes a walk-in closet and connects directly to the bathroom and laundry area, while the second bedroom can serve as guest space, an office, or a hobby room. Interior features include wood or simulated wood flooring, a skylight, central air, forced-air heat, and fiber internet availability. The kitchen includes a refrigerator, stove, microwave, and dishwasher, with a washer and dryer also included.
The property has a private entry, patio, vinyl and brick exterior, and a gas fireplace. Recent work includes fresh paint, new flooring, a garage door, furnace, water heater, and bathroom. Lawn care and snow removal are included. Built in 1994 and zoned Res, the home is located at 1579 North Dewey Avenue in Reedsburg, Wisconsin.
The property has a private entry, patio, vinyl and brick exterior, and a gas fireplace. Recent work includes fresh paint, new flooring, a garage door, furnace, water heater, and bathroom. Lawn care and snow removal are included. Built in 1994 and zoned Res, the home is located at 1579 North Dewey Avenue in Reedsburg, Wisconsin.
Key Highlights
- 1,148 SF condominium with 2 bedrooms and 1 full bathroom
- Main‑level layout with primary bedroom walk‑in closet and direct bathroom access
- Recent updates include flooring, furnace, water heater, bathroom, and garage door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,501
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$190,020
$190.0K
Cap Rate 7%
$135,729
$135.7K
Cap Rate 9%
$105,567
$105.6K
Market Conditions
NOI Build-Up for 1,148 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.2K $15.84/SF
− Vacancy
−$909 −$0.79/SF
EGI
$17.3K $15.05/SF
− OpEx
−$7.8K −$6.77/SF
NOI
$9.5K $8.28/SF
Area
Sauk County, WI
Vacancy
5.00%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$190,020
Cap Rate 7%
$135,729
Cap Rate 9%
$105,567
Alternative Uses
Best Use
Apartment 5plus
$135.7K
$118.8K – $158.4K
NOI $9,501 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$232.4K
$203.3K – $271.1K
NOI $16,267 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 53959, WI
14,298
Population
5,930
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
94%
High-School Grad
111.6 sq mi
ZIP Area
128
Density / Sq Mi
$76,313
Median Household Income
$41,886
Median Earnings
$954
Median Rent
$240,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Low-maintenance condo with private outdoor space, flexible second-bedroom use, and recent mechanical and interior improvements.
Where is this residential income property located?
The property is located at 1579 North Dewey Avenue Reedsburg, WI.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 1,148 SF condominium with 2 bedrooms and 1 full bathroom; Main‑level layout with primary bedroom walk‑in closet and direct bathroom access; Recent updates include flooring, furnace, water heater, bathroom, and garage door
